October 11th, early morning: The wind blows away the bubbles of the night
The K-line in the early morning shows no mercy.
The U.S. stock market plunged, and the cryptocurrency market collapsed in a chain reaction—red waterfalls flowed from Wall Street all the way to the blockchain.
Some say it was due to data exceeding expectations, while others blame the market for jumping the gun,
but the truth is quite simple: confidence is more fragile than price.
Before last night, everyone was still discussing the next narrative, the next Alpha;
by dawn, all that was left were "stop-loss," "liquidate," and "wait a bit longer."
Funds left cleanly, and the mood turned completely cold.
But history repeats itself: the moment the bubble bursts is also the starting point of a new cycle.
It's just that most people cannot withstand that night.
—October 11th, a record of a storm, and a tribute to all those who still stare at the K-line and refuse to sleep.
